RBI steps in to check rupee gains: Traders

Tags: News
The Reserve Bank of India was spotted buying dollars via state-run banks starting around 58.99-59.00, three traders said, continuing its heavy intervention to curb strength in the rupee.

The rupee was at 59.0400/0500 per dollar by 9:49 a.m., off its session high of 58.98. The currency closed at 59.17/18 on Friday.

The rupee had opened stronger tracking gains in local share markets, which hit record highs for a second straight session on continued hopes of wide-ranging reforms by the new government.

EDITORIAL OF THE DAY

  • Government must consider Sitharaman’s move to revisit Apple’s application for retail

    Commerce and industry minister Nirmala Sitharaman’s decision to revisit the Apple application for waiver of mandatory local sourcing, if taken serio

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Arun Nigavekar

Can Hefa actually become a reality?

The ministry of human resource development (MHRD) is actively wo­rking ...

Zehra Naqvi

Man proved to be a tyrant and a fool

Reading the history of different species is, perhaps, the most ...

Dharmendra Khandal

No one's getting rich overnight by poaching

We often read in newspapers that tiger skin worth Rs ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture